California State Teachers Retirement System decreased its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 9.6% during the third quarter, Holdings Channel reports. The institutional investor owned 147,998 shares of the bank’s stock after selling 15,712 shares during the period. California State Teachers Retirement System’s holdings in TrustCo Bank Corp NY were worth $1,317,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. CAPROCK Group Inc. purchased a new stake in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $106,000. Susquehanna International Group LLP purchased a new stake in shares of TrustCo Bank Corp NY during the second quarter valued at approximately $136,000. SG Americas Securities LLC purchased a new stake in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $140,000. Piedmont Investment Advisors LLC purchased a new stake in shares of TrustCo Bank Corp NY during the second quarter valued at approximately $163,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $166,000. Hedge funds and other institutional investors own 58.76% of the company’s stock.
In related news, Director William D. Powers sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $9.52, for a total value of $47,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.
TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Monday, October 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. TrustCo Bank Corp NY had a net margin of 25.16% and a return on equity of 10.51%. The company had revenue of $44.03 million for the quarter. During the same quarter in the prior year, the business posted $0.11 EPS.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were issued a $65625.00 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $262,500.00 annualized dividend and a yield of 2,949,438.20%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 53.06%.
A number of research firms have recently commented on TRST. BidaskClub cut shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Canaccord Genuity increased their price target on shares of TrustCo Bank Corp NY from $7.25 to $9.50 in a report on Monday, December 4th. Finally, Sandler O’Neill set a $10.00 price target on shares of TrustCo Bank Corp NY and gave the company a “hold” rating in a report on Wednesday, January 3rd.
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TrustCo Bank Corp NY Profile
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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